SATS Price Prediction: SATS Breaks Above a Major Bearish Trend Line, Is This the Start of Its Breako

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1. SATS Price Challenging a Major Trend Line

2. Sats Could Continue to Rise as Technicals Align

The SATS price printed a slight 24-hour gain to trade at $0.0000004696 at press time.

SATS Price Challenging a Major Trend Line

Daily chart for SATS/USDT (Source: TradingView)

The SATS price broke above a negative medium-term trend line over the past 24 hours and continues to trade above this level. Should it close today’s trading session above this point, it may have the foundation needed to rise to the $0.0000005420 resistance level in the coming couple of days. Breaking above this threshold could then clear a path for the altcoin to rise to the subsequent barrier at $0.0000006535 in the short term.

This bullish thesis may be invalidated if the SATS price fails to close today’s daily candle above the negative trend line. In this alternative scenario, the crypto may lose the support of the $0.0000004505 mark. This could then put it at risk of dropping to $0.0000004025. Continued sell pressure could pull the SATS price down to as low as $0.0000003505.

Sats Could Continue to Rise as Technicals Align

Technical indicators on SATS’ daily chart suggest the SATS price may continue to rise in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flagging bullish.

The MACD line is breaking away above the MACD Signal line, which could suggest SATS’ positive trend is growing stronger. In addition to this, the RSI line is positioned above its Simple Moving Average (SMA) line. Traders generally see this as a sign that bulls are stronger than bears. As a result, it may be easier for buyers to boost the SATS price in the next 48 hours than it will be for sellers to drag it down.

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